Foundation Medicine and H3 Biomedicine announce oncology collaboration

USA-based Foundation Medicine (Nasdaq: FMI) and privately-held US biopharma company H3 Biomedicine have announced a multi-year collaboration for the discovery and development of precision medicines in oncology.

The collaboration marries Foundation Medicine’s genomic knowledgebase of more than 35,000 genomic profiles, FoundationCORE, with H3 Biomedicine’s drug discovery engine and computational biology platform. The deal aims to identify potential drug targets based on the unique genomic dependencies of individual cancers, rapidly accelerate clinical development, and lead to the commercialization of new precision medicines for individuals living with cancer.

Markus Warmuth, president and chief executive of H3 Biomedicine, said: “We believe Foundation Medicine offers one of the most comprehensive cancer genomics knowledge-bases available. This collaborative effort will further empower our state-of-the-art discovery engines to deliver novel first-in-class medicines and improve our clinical development strategies by accessing a wealth of clinically annotated, genomic information at least in part derived from later-stage and metastatic cancers.”